An empty pedestrian area in Milan on February 26. Equity markets have taken fright at the sudden outbreak of Covid-19 in Italy, and an acceleration in cases in South Korea and Iran. Photo: Bloomberg
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Markets are finally waking up to the coronavirus crisis, as hopes of a V-shaped recovery fade

  • The epidemic caught up with global stocks this week, suggesting investors had clearly misjudged its contagiousness and, just as importantly, the severity of the economic shock. Moreover, central banks appear powerless to deal with the problem
An empty pedestrian area in Milan on February 26. Equity markets have taken fright at the sudden outbreak of Covid-19 in Italy, and an acceleration in cases in South Korea and Iran. Photo: Bloomberg
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